bitFlyer, a Tokyo, Japan-based bitcoin exchange, raised ¥3bn (approx. $27m) in Series C funding.
The round was led by Venture Labo Investment and SBI Investment, the venture capital arm of financial services company SBI Group.
The company, which has raised over $34m in total funding, will use the capital for R&D of blockchain technology, expand operations and hire new people.
Led by CEO Yuzo Kano, bitFlyer is a bitcoin exchange operator serving more than 150,000 users monthly. The company currently employs 23 people in Tokyo and Luxembourg. Other backers in bitFlyer also includes Dentsu Digital Holdings, Mitsubishi UFJ Capital Co, Mitsui Sumitomo Insurance Venture Capital Co and Venture Labo.